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UTStarcom Issues Q1 Revenue Outlook - Quick Facts

UTStarcom (UTSI), a global telecommunications infrastructure provider, announced, for the first quarter of 2019, the company expects to generate revenue in the range of $20 to $25 million. The company noted that its quarterly revenue pattern is typically uneven due to the timing of project fulfillments.

Fourth-quarter total revenues were $12.7 million, compared to $18.2 million in the corresponding period in 2017. Net equipment sales were $8.5 million, a decrease of 33.6% from prior year. The company said the decrease was due to the timing of India project fulfillments. Fourth-quarter net loss attributable to shareholders was $1.0 million, compared to a net loss of $3.6 million in the corresponding period in 2017. Basic loss per share was $0.03 compared to a basic loss per share of $0.10.

Fiscal 2018 total revenues were $115.9 million, an increase of 18% from $98.3 million in 2017. Full year 2018 net income attributable to shareholders was $5.1 million, compared to net income of $7.0 million in 2017.

UTStarcom's CEO Tim Ti stated, "We are pleased with our strong execution in 2018. We achieved year-over-year revenue growth of 18%, maintained profitability in a competitive environment, secured key project wins in India and introduced advanced products that have strengthened our competitive position. Fourth quarter revenue was within our guidance, and gross margin increased more than 20 percentage points, driven by favorable product and geographic mix."

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